Islamic State Likely To Decentralise Financing: US Official
Mohammad Ali (@ChaudhryMAli88) Published November 20, 2019 | 10:59 PM
The Islamic State (IS) group's financing is likely to shift from a "centralised" system in Iraq and Syria to a much more fragmented one following the death of its leader, a US official said Wednesday
"They still have access to millions of Dollars," Marshall Billingslea, US Treasury assistant secretary for terrorist financing, told reporters after attending a Luxembourg meeting focused on countering the IS.
He said that the group's financial operations are expected to move away "from a centralised model in Iraq and Syria into a much more regionalised approach" as it adapts to cope with the death of leader Abu Bakr al-Baghdadi.
Baghdadi died on October 26 during a US special forces raid on his hideout in northwestern Syria, where he was holed up after the defeat of his so-called caliphate that has once stretched across northern Syria and Iraq.
Billingslea predicted that IS will rely "on their different regional bodies to become more self-sufficient," notably through ransoms from kidnappings, extortion and even the theft of cows in Nigeria, where it also has a presence.
The Luxembourg meeting brought together representatives of countries within a coalition that has formed to combat IS financing, under the banner Counter ISIS Finance Group.
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